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Unclaimed dividend

Siddharth (Assistant Manager - Controls and Compliance) (27 Points)

01 December 2010

Could anyone please help me to find out whether the unclaimed dividend can be claimed after seven years and if so what is the procedure?

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3 Replies

CA Dhiraj Ramchandani (CA, M. com) (10823 Points)
Replied 01 December 2010

The language of companies act specifically states that company no longer remain liables for unclaimed dividend, once its deposited wid CG... So it can't b claimed from company atleast... And on completion of seven years, such amount is utilised for INVESTOR'S EDUCATION & PROTECTION only., so i think yes such dividend can b claimed from central govt... But let some expert answer on this...

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Sunshine (Helping All) (10575 Points)
Replied 01 December 2010

agree with dhiraj ........its deposited into the fund after 7 years....but i dont think that now the shareholder can claim it coz its gone to the fund and can be utilised only for that purpose...coz CG cant keep record of each and every shareholder of different companies....thats what i think...let others answer..